RE: Rns20 Aug 2025 15:10
In an ideal world, GCG get the price up higher and this is used as the conversion price, new GCG(NEWCO) shares issued to the holders of , in this case NE10 in place of their current share base.
They benefit from saving promotion/presentations costs and up to 2 years, doing a full IPO themselves, the shell benefits by becoming an actual thing, not just a place holder in the market.
Once the deal agreed in effect an RTO is the last two steps of the IPO process, new prospectus to FCA and then on approval the 10 working day process, to return to the market. Ideally , all paperwork to the FCA up to snuff, first time and that is also less than 2 weeks, if not, they will ping pong the prospectus, back and forth , until the FCA happy they have all the info required.
So delays are usually down to the companies, never the FCA or Market
1) Suspend and take an eternity to agree/sign the deal and submit prospectus (FCA zero interest until this point)
2) Companies fail to provide decent paperwork and as above , ping-pong.